Bank of America Mission and Vision Statement

The Bank of America is headquartered in the Bank of America Corporate Center in Charlotte, North Carolina, USA. It is a worldwide American investment bank and financial services holding corporation. In 1998, the contemporary firm was founded by combining Bank America and Nations Bank.

The mission and vision statements of Bank of America show the organization's dedication to responsible global growth and responsibility.

As a prominent financial institution, they provide services in consumer banking, international wealth and investment management, international banking, international markets, and legacy assets. In addition to serving 66 million consumers and corporate clients domestically, Bank of America also offers services in 35 other countries.

Figure 1- Bank of America Mission Statement

Mission Statement

According to Bank of America, their corporate mission is stated as follows,

"To help make financial lives better by connecting clients and communities to the resource they need to be successful."

A shortened form of this mission statement is, 

"to help make financial lives better through the power of every connection," 

much like in some of the company's official publications and announcements.

This mission statement focuses on meeting target customers' requirements by utilizing Bank of America's financial products to enhance customers' financial conditions as the company makes money while offering financial services.

The Bank of America accomplishes its objective by emphasizing governance, social responsibility, and the environment (ESG). ESG refers to three factors investors utilize to make ethical and socially responsible financial decisions.

To evaluate their strategy, businesses must consider responsible growth as a vital factor:

• Commitment to continuing development

• Commitment to customer-centered planning

• Growth commitment inside their Risk Framework

• Commitment to Long-Term Growth

• Commitment to distributing to the community the benefits of growth

• Commitment to creating a model workplace

• Commitment to achieving operational excellence

Figure 2- Bank of America Mission Statement Is _To Help Make Financial Lives Better Through the Power of Every Connection

Vision Statement

The vision statement of Bank of America is "to be the world's finest financial services company. This vision statement was made public by CEO Brian Moynihan as one of the key objectives of the company's financial services.

Bank of America is well-positioned to achieve its goal statement, considering its status as one of the top rivals in its sector.

Bank of America sees "bringing people the resources they need to improve their financial lives." The company's long-term objective to become the premier supplier of financial services worldwide is accomplished through the vision, which is straightforward and serves its purpose.

The vision statement is broken into the following essential components, which together explain how the company intends to fulfill its vision:

• To top the world in excellence.

• Becoming the best financial service provider.

The bank has already made contact with individuals and companies all across the world. However, it continues to strive for expansion as its vision outlines its goal of being the "finest" financial service globally.

Core Values of BoA

The core values of Bank of America are:

Deliver together: Each client, each employee, and each moment are treated as unique individuals and significant. To such delivery, they bring both passion and discipline.

Being responsible: The business operates ethically and systematically. They understand how their choices and deeds affect people's day-to-day lives. They work to make judgments that are rational, fair, and unambiguous.

Recognize the people's strengths: By recognizing the variety of styles, cultures, ethnicities, and backgrounds throughout its workforce, Bank of America aims to assist each person reach their full potential.

Trust the team: To succeed and accomplish goals, it promotes collaboration. To meet the demands of the clients, the business functions as a whole.

The Slogan of Bank of America

A slogan is a catchy catchphrase or phrase used in a clan, political, commercial, or religious setting to repeatedly communicate a concept or objective to convince the general public or a more narrowly defined target group.

The tagline of Bank of America, "Life's better when we're connected," refers to various qualities of the bank, including digital connection, solid client relationships, and a sense of community and unity. Together, these characteristics transform a company that may otherwise appear to be far away into a warm and approachable company.

Frequently Asked Questions

1. What Is Bank of America Best Known For?

Bank of America is one of the world's largest financial organizations. It provides a broad range of banking and capital management, as well as other risk and finance products and services to individuals, small and medium-sized enterprises, big corporations, and governments.

2. What Is the Motto of Bank of America?

We have to grow — no excuses.

3. What Is the Culture of Bank of America?

By building an atmosphere of trust and participation where all employees are given the freedom to bring their complete selves to work, Bank of America has developed a strong, inclusive culture.